Feb. 19 (Bloomberg) -- Former Italian Prime Minister Silvio
Berlusconi, campaigning with elections five days away, said he
recognized the the risks of a euro breakup.

“We are realists,” Berlusconi said today in an interview
streamed on the website of Italian daily Corriere Della Sera.
“But before us there would have to be other countries to exit
like Greece, Ireland, Portugal.”

Berlusconi, 76, is pushing to ease European Union demands
for austerity as he appeals to voters scarred by an 18-month
recession. He has rejected the EU’s prescription of budget cuts
to combat the sovereign debt crisis and said countries should
instead rely on a backstop from the European Central Bank.

“The European Central Bank must become a fully fledged
central bank,” Berlusconi said. “That means it should
guarantee the sovereign debt of all countries that use the euro
as a currency.”